91.
Page 733, line 20: after "108-357," insert "P.L. 108-375,".
92.
Page 734, line 21: after "108-357," insert "P.L. 108-375,".
(End)
LRBb0348LRBb0348/1
JK:wlj:ch
2005 - 2006 LEGISLATURE
LFB:......Reinhardt - Livestock farm investment credit
For 2005-07 Budget -- Not Ready For Introduction
ASSEMBLY AMENDMENT ,
TO 2005 ASSEMBLY BILL 100
At the locations indicated, amend the bill as follows:
1.
Page 635, line 25: delete "DAIRY LIVESTOCK" and substitute "
DAIRY AND LIVESTOCK".
2.
Page 636, line 1: delete lines 1 to 20 and substitute:
"SECTION 1310b. 71.07 (3n) (a) 2. (intro.) of the statutes is amended to read:
71.07 (3n) (a) 2. (intro.) "Dairy farm modernization or expansion" means the construction, the improvement, or the acquisition of buildings or facilities, or the acquisition of equipment, for dairy animal housing, confinement, animal feeding, milk production, or waste management, including the following, if used exclusively related to dairy animals and if acquired and placed in service in this state during taxable years that begin after December 31, 2003, and before January 1, 2010:
SECTION 1310c. 71.07 (3n) (a) 4. of the statutes is created to read:
71.07 (3n) (a) 4. "Livestock" means cattle, not including dairy animals; swine; poultry, not including farm-raised game birds or ratites; fish that are raised in aquaculture facilities; sheep; and goats.
SECTION 1310d. 71.07 (3n) (a) 5. of the statutes is created to read:
71.07 (3n) (a) 5. "Livestock farm modernization or expansion" means the construction, the improvement, or the acquisition of buildings or facilities, or the acquisition of equipment, for livestock housing, confinement, feeding, or waste management, including the following, if used exclusively related to livestock and if acquired and placed in service in this state during taxable years that begin after December 31, 2005, and before January 1, 2012:
a. Birthing structures.
b. Rearing structures.
c. Feedlot structures.
d. Feed storage and handling equipment.
e. Fences.
f. Watering facilities.
g. Scales.
h. Manure pumping and storage facilities.
i. Digesters.
j. Equipment used to produce energy.
k. Fish hatchery buildings.
L. Fish processing buildings.
m. Fish rearing ponds.
SECTION 1310e. 71.07 (3n) (a) 6. of the statutes is created to read:
71.07 (3n) (a) 6. a. For taxable years that begin after December 31, 2003, and before January 1, 2006, "used exclusively," related to dairy animals, means used to the exclusion of all other uses except for use not exceeding 5 percent of total use.
b. For taxable years that begin after December 31, 2005, and before January 1, 2010, "used exclusively," related to livestock, dairy animals, or both, means used to the exclusion of all other uses except for use not exceeding 5 percent of total use.
c. For taxable years that begin after December 31, 2009, and before January 1, 2012, "used exclusively," related to livestock, means used to the exclusion of all other uses except for use not exceeding 5 percent of total use.
SECTION 1311b. 71.07 (3n) (b) of the statutes is renumbered 71.07 (3n) (b) 1.
SECTION 1311c. 71.07 (3n) (b) 2. of the statutes is created to read:
71.07 (3n) (b) 2. Subject to the limitations provided in this subsection, for taxable years that begin after December 31, 2005, and before January 1, 2012, a claimant may claim as a credit against the tax imposed under ss. 71.02 and 71.08 an amount equal to 10 percent of the amount the claimant paid in the taxable year for livestock farm modernization or expansion related to the operation of the claimant's livestock farm.
SECTION 1311d. 71.07 (3n) (e) of the statutes is renumbered 71.07 (3n) (e) 1. and amended to read:
71.07 (3n) (e) 1. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on their payment of expenses under par. (b), except that the aggregate amount of credits that the entity may compute shall not exceed $50,000. A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit in proportion to their ownership interest.
SECTION 1311e. 71.07 (3n) (e) 2. of the statutes is created to read:
71.07 (3n) (e) 2. If 2 or more persons own and operate the dairy or livestock farm, each person may claim a credit under par. (b) in proportion to his or her ownership interest, except that the aggregate amount of the credits claimed by all persons who own and operate the farm shall not exceed $50,000.".
3.
Page 704, line 18: delete "DAIRY LIVESTOCK" and substitute "
DAIRY AND LIVESTOCK".
4.
Page 704, line 19: delete the material beginning with that line and ending with page 705, line 13, and substitute:
"SECTION 1381b. 71.28 (3n) (a) 2. (intro.) of the statutes is amended to read:
71.28 (3n) (a) 2. (intro.) "Dairy farm modernization or expansion" means the construction, the improvement, or the acquisition of buildings or facilities, or acquiring equipment, for dairy animal housing, confinement, animal feeding, milk production, or waste management, including the following, if used exclusively related to dairy animals and if acquired and placed in service in this state during taxable years that begin after December 31, 2003, and before January 1, 2010:
SECTION 1381c. 71.28 (3n) (a) 4. of the statutes is created to read:
71.28 (3n) (a) 4. "Livestock" means cattle, not including dairy animals; swine; poultry, not including farm-raised game birds or ratites; fish that are raised in aquaculture facilities; sheep; and goats.
SECTION 1381d. 71.28 (3n) (a) 5. of the statutes is created to read:
71.28 (3n) (a) 5. "Livestock farm modernization or expansion" means the construction, the improvement, or the acquisition of buildings or facilities, or the acquisition of equipment, for livestock housing, confinement, feeding, or waste management, including the following, if used exclusively related to livestock and if acquired and placed in service in this state during taxable years that begin after December 31, 2005, and before January 1, 2012:
a. Birthing structures.
b. Rearing structures.
c. Feedlot structures.
d. Feed storage and handling equipment.
e. Fences.
f. Watering facilities.
g. Scales.
h. Manure pumping and storage facilities.
i. Digesters.
j. Equipment used to produce energy.
k. Fish hatchery buildings.
L. Fish processing buildings.
m. Fish rearing ponds.
SECTION 1381e. 71.28 (3n) (a) 6. of the statutes is created to read:
71.28 (3n) (a) 6. a. For taxable years that begin after December 31, 2003, and before January 1, 2006, "used exclusively," related to dairy animals, means used to the exclusion of all other uses except for use not exceeding 5 percent of total use.
b. For taxable years that begin after December 31, 2005, and before January 1, 2010, "used exclusively," related to livestock, dairy animals, or both, means used to the exclusion of all other uses except for use not exceeding 5 percent of total use.
c. For taxable years that begin after December 31, 2009, and before January 1, 2012, "used exclusively," related to livestock, means used to the exclusion of all other uses except for use not exceeding 5 percent of total use.
SECTION 1382b. 71.28 (3n) (b) of the statutes is renumbered 71.28 (3n) (b) 1.
SECTION 1382c. 71.28 (3n) (b) 2. of the statutes is created to read:
71.28 (3n) (b) 2. Subject to the limitations provided in this subsection, for taxable years that begin after December 31, 2005, and before January 1, 2012, a claimant may claim as a credit against the tax imposed under s. 71.23 an amount equal to 10 percent of the amount the claimant paid in the taxable year for livestock farm modernization or expansion related to the operation of the claimant's livestock farm.
SECTION 1382d. 71.28 (3n) (e) of the statutes is renumbered 71.28 (3n) (e) 1. and amended to read:
71.28 (3n) (e) 1. Partnerships, limited liability companies, and tax-option corporations may not claim the credit under this subsection, but the eligibility for, and the amount of, the credit are based on their payment of expenses under par. (b), except that the aggregate amount of credits that the entity may compute shall not exceed $50,000. A partnership, limited liability company, or tax-option corporation shall compute the amount of credit that each of its partners, members, or shareholders may claim and shall provide that information to each of them. Partners, members of limited liability companies, and shareholders of tax-option corporations may claim the credit in proportion to their ownership interest.
SECTION 1382e. 71.28 (3n) (e) 2. of the statutes is created to read:
71.28 (3n) (e) 2. If 2 or more persons own and operate the dairy or livestock farm, each person may claim a credit under par. (b) in proportion to his or her ownership interest, except that the aggregate amount of the credits claimed by all persons who own and operate the farm shall not exceed $50,000.".
5.
Page 738, line 11: delete "DAIRY LIVESTOCK" and substitute "
DAIRY AND LIVESTOCK".
6.
Page 738, line 12: delete the material beginning with that line and ending with page 739, line 6, and substitute:
"SECTION 1424b. 71.47 (3n) (a) 2. (intro.) of the statutes is amended to read:
71.47 (3n) (a) 2. (intro.) "Dairy farm modernization or expansion" means the construction, the improvement, or the acquisition of buildings or facilities, or the acquisition of equipment, for dairy animal housing, confinement, animal feeding, milk production, or waste management, including the following, if used exclusively related to dairy animals and if acquired and placed in service in this state during taxable years that begin after December 31, 2003, and before January 1, 2010:
SECTION 1424c. 71.47 (3n) (a) 4. of the statutes is created to read:
71.47 (3n) (a) 4. "Livestock" means cattle, not including dairy animals; swine; poultry, not including farm-raised game birds or ratites; fish that are raised in aquaculture facilities; sheep; and goats.
SECTION 1424d. 71.47 (3n) (a) 5. of the statutes is created to read:
71.47 (3n) (a) 5. "Livestock farm modernization or expansion" means the construction, the improvement, or the acquisition of buildings or facilities, or the acquisition of equipment, for livestock housing, confinement, feeding, or waste management, including the following, if used exclusively related to livestock and if acquired and placed in service in this state during taxable years that begin after December 31, 2005, and before January 1, 2012:
a. Birthing structures.
b. Rearing structures.
c. Feedlot structures.
d. Feed storage and handling equipment.
e. Fences.
f. Watering facilities.
g. Scales.
h. Manure pumping and storage facilities.
i. Digesters.
j. Equipment used to produce energy.
k. Fish hatchery buildings.
